UPDATE: A number of SAA flights cancelled both domestically and abroad
Economist Davie Roodt warned on Tuesday: "SAA as an entity simply will not survive, they have been run into the ground."
The routes affected by SAA"s cancellation of flights include the popular Johannesburg-Cape Town route.
In a statement, SAA said it is in the process of "consolidating selected domestic flights between the airline's main hub, OR Tambo International Airport, and Cape Town, as well as between Johannesburg and Durban's King Shaka airports."
The suspension of flights is until 24 January.
Internationally, flights between Johannesburg and MUnch, Frankfurt, and Heathrow are also affected.
The statement said: "during the current process of business rescue, these cancellations represent a responsible strategy to conserve cash and optimise the airline's position ahead of any further capital investment."
Top Travel agency Flight Centre earlier warned travellers that SAA has cancelled a number of their domestic and international flights.
In a post on social media, the company says: "We are in the process of contacting our customers to advise and assist. Should you be affected and wish to discuss your options, please contact your Travel Expert."
Travel Advisory
— FlightCentreZA (@FlightCentreRSA) January 20, 2020
South African Airways (SAA) has cancelled a number of their domestic and international flights. We are in the process of contacting our customers to advise and assist. Should you be affected and wish to discuss your options, please contact your Travel Expert. pic.twitter.com/hAW8NN8FsY
On Monday, SAA still denied media reports that it has canceled flights.
In a statement, it said "SAA wishes to assure its customers and stakeholders that flights to all its destinations continue as normal.
However, on Tuesday SAA spokesperson, Tladi Tladi declined to comment, saying they were in the process of drafting a statement.
Public Service Announcement: SAA continues with operations as normal.
— SAA - South Africa (@flysaa) January 20, 2020
Link to the media release: https://t.co/0dr3J4uwuG #FlySAA pic.twitter.com/b1MWw9jX1a
On Tuesday, President Cyril Ramaphosa signed a number of so-called Money Bills that paved the way for SAA to receive R2 billion post-commencement financing (CFP).
However, economist Davie Roodt warned that it might not be enough to save the airline.
ALSO READ: Money Bills pave the way for SAA funding, but will it be enough to save the airline?
"I'm pretty sure that SAA will not survive in the way that we know South Africa Airways. I think chances are good that at least parts of SAA will be liquidated," said Roodt.
Roodt said low-cost carrier Mango might survive or be sold off, "But SAA as an entity simply will not survive, they have been run into the ground."